Starting this fall, German automaker BMW will lease approximately 700 of its 1 Series-based ActiveE electric coupes for $499 a month. The lease is for 24 months, with $2,250 due at signing, and will be available in six markets in the U.S.: the New York metropolitan area, Boston, San Francisco, Sacramento, San Diego and Los Angeles. Reservations for the battery-powered Bimmer kick off this summer.
Despite that, BMW North America chairman and chief executive officer, Jim O'Donnell, told the Detroit News that he's "far more optimistic" about diesel vehicles boosting the automaker's U.S. market share than electric vehicles (EVs) and added that the U.S. government should cancel its $7,500 tax credit for electrified autos:
But that's not all that O'Donnell had to say. The CEO continued on, reportedly telling the Detroit News that:I believe in a free economy. I think we should abolish all tax credits. What they are doing is putting a bet on technology, which is not appropriate. As a taxpayer, I am not sure this is the right way to go.
Ouch. Harsh words for sure. Does this mean that the i3, BMW's upcoming electric vehicle, is being set up to fail?[EVs] won't work for most people. For at least 90 percent and maybe more of the population, [an EV] won't work [at the current battery range].